US public pension profile· Rhode Island MERS
Rhode Island Municipal Employees’ Retirement System
Funding, investment choices and long-term returns.
Rhode Island ·Fiscal year 2025
Rhode Island MERS: fiscal year 2025 at a glance
- Market value of assets
- USD 2.5 billion
- Total membership
- 21,009
- Funded ratio
- 85.16%
- Assumed investment return
- 7.00%
Asset allocation in 2025
| Public equity | 42.25% |
|---|---|
| Fixed income | 20.97% |
| Private equity | 22.13% |
| Real estate | 5.90% |
| Hedge funds | 6.74% |
| Cash | 2.00% |
Returns to 2025
| One year | 8.41% |
|---|---|
| Five years | 10.60% |
| Ten years | 7.94% |
Rhode Island MERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 0.8 billion | 12,448 | 118.10% | 8.25% |
| 2002 | USD 0.7 billion | 12,915 | 111.30% | 8.25% |
| 2003 | USD 0.7 billion | 13,014 | 100.70% | 8.25% |
| 2004 | USD 0.8 billion | 13,850 | 93.20% | 8.25% |
| 2005 | USD 0.9 billion | 14,052 | 87.20% | 8.25% |
| 2006 | USD 1.0 billion | 14,386 | 87.10% | 8.25% |
| 2007 | USD 1.2 billion | 14,642 | 90.30% | 8.25% |
| 2008 | USD 1.1 billion | 14,667 | 92.75% | 8.25% |
| 2009 | USD 0.9 billion | 14,771 | 88.30% | 8.25% |
| 2010 | USD 1.0 billion | 14,780 | 73.60% | 7.50% |
| 2011 | USD 1.2 billion | 14,895 | 84.30% | 7.50% |
| 2012 | USD 1.2 billion | 14,988 | 82.50% | 7.50% |
| 2013 | USD 1.2 billion | 15,120 | 82.10% | 7.50% |
| 2014 | USD 1.4 billion | 15,216 | 84.14% | 7.50% |
| 2015 | USD 1.4 billion | 15,395 | 83.83% | 7.50% |
| 2016 | USD 1.4 billion | 15,755 | 83.02% | 7.50% |
| 2017 | USD 1.5 billion | 15,993 | 78.64% | 7.00% |
| 2018 | USD 1.6 billion | 16,186 | 79.44% | 7.00% |
| 2019 | USD 1.6 billion | 16,623 | 80.48% | 7.00% |
| 2020 | USD 1.7 billion | 17,001 | 80.52% | 7.00% |
| 2021 | USD 2.1 billion | 17,335 | 84.26% | 7.00% |
| 2022 | USD 2.0 billion | 18,142 | 85.89% | 7.00% |
| 2023 | USD 2.2 billion | 19,610 | 82.37% | 7.00% |
| 2024 | USD 2.3 billion | 20,261 | 82.83% | 7.00% |
| 2025 | USD 2.5 billion | 21,009 | 85.16% | 7.00% |
Rhode Island MERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2002 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2003 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2004 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2005 | 68.13% | 25.22% | 5.97% | 0.00% | 0.00% | 0.67% |
| 2006 | 65.75% | 24.37% | 9.60% | 0.00% | 0.00% | 0.27% |
| 2007 | 64.16% | 26.05% | 9.17% | 0.00% | 0.00% | 0.61% |
| 2008 | 60.17% | 26.37% | 13.32% | 0.00% | 0.00% | 0.14% |
| 2009 | 57.64% | 25.77% | 9.29% | 4.70% | 0.00% | 0.20% |
| 2010 | 51.85% | 32.03% | 9.71% | 3.60% | 0.00% | 0.90% |
| 2011 | 54.29% | 30.64% | 8.38% | 3.39% | 0.00% | 0.30% |
| 2012 | 47.95% | 26.67% | 8.49% | 3.80% | 12.09% | 0.40% |
| 2013 | 48.65% | 20.76% | 7.52% | 3.51% | 19.26% | 0.30% |
| 2014 | 49.35% | 20.92% | 6.71% | 3.10% | 19.72% | 0.20% |
| 2015 | 46.71% | 25.95% | 6.69% | 4.59% | 14.37% | 0.70% |
| 2016 | 44.48% | 17.81% | 9.25% | 6.57% | 19.80% | 1.00% |
| 2017 | 46.15% | 17.12% | 8.71% | 7.21% | 14.21% | 3.00% |
| 2018 | 46.15% | 22.32% | 8.01% | 7.01% | 8.11% | 3.00% |
| 2019 | 45.46% | 20.20% | 8.08% | 7.07% | 10.10% | 3.03% |
| 2020 | 44.23% | 19.46% | 7.92% | 6.82% | 16.25% | 2.81% |
| 2021 | 44.58% | 19.06% | 10.62% | 5.21% | 14.90% | 3.12% |
| 2022 | 38.30% | 24.00% | 19.70% | 6.30% | 7.20% | 1.30% |
| 2023 | 40.74% | 19.72% | 21.12% | 5.61% | 7.21% | 1.70% |
| 2024 | 39.44% | 20.62% | 21.52% | 5.30% | 7.21% | 1.90% |
| 2025 | 42.25% | 20.97% | 22.13% | 5.90% | 6.74% | 2.00% |
Rhode Island MERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -11.00% | Not reported | Not reported |
| 2002 | -8.40% | Not reported | Not reported |
| 2003 | 3.90% | 0.40% | Not reported |
| 2004 | 19.50% | 2.00% | Not reported |
| 2005 | 12.20% | 2.50% | Not reported |
| 2006 | 12.60% | 7.50% | Not reported |
| 2007 | 15.84% | 12.87% | Not reported |
| 2008 | -5.39% | 10.63% | Not reported |
| 2009 | -19.18% | 2.28% | Not reported |
| 2010 | 13.46% | 2.60% | 2.54% |
| 2011 | 20.40% | 4.02% | 5.69% |
| 2012 | 1.55% | 1.19% | 6.78% |
| 2013 | 11.10% | 4.43% | 7.50% |
| 2014 | 15.12% | 12.05% | 7.10% |
| 2015 | 2.22% | 9.77% | 6.11% |
| 2016 | -0.27% | 5.75% | 4.83% |
| 2017 | 11.62% | 7.80% | 4.44% |
| 2018 | 8.03% | 7.20% | 5.83% |
| 2019 | 6.54% | 5.55% | 8.80% |
| 2020 | 3.78% | 5.87% | 7.80% |
| 2021 | 25.60% | 10.86% | 8.28% |
| 2022 | -1.45% | 8.14% | 7.97% |
| 2023 | 8.91% | 8.30% | 7.75% |
| 2024 | 10.46% | 9.10% | 7.31% |
| 2025 | 8.41% | 10.60% | 7.94% |